Bartlett & CO. Wealth Management LLC Sells 4,085 Shares of McDonald’s Co. (NYSE:MCD)

Bartlett & CO. Wealth Management LLC reduced its holdings in McDonald’s Co. (NYSE:MCD) by 2.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 145,682 shares of the fast-food giant’s stock after selling 4,085 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in McDonald’s were worth $44,362,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Dixon Mitchell Investment Counsel Inc. bought a new stake in McDonald’s in the first quarter valued at $28,000. Kings Path Partners LLC purchased a new stake in shares of McDonald’s in the 2nd quarter worth about $38,000. Keener Financial Planning LLC boosted its stake in shares of McDonald’s by 32.3% during the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after purchasing an additional 43 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of McDonald’s during the second quarter valued at about $59,000. Finally, Redmont Wealth Advisors LLC bought a new position in McDonald’s in the first quarter worth about $69,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Trading Up 0.6 %

Shares of MCD opened at $316.53 on Friday. The firm has a market cap of $228.12 billion, a PE ratio of 26.87, a P/E/G ratio of 4.05 and a beta of 0.73. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.18. The firm has a fifty day simple moving average of $294.62 and a two-hundred day simple moving average of $273.73.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the company posted $3.17 EPS. As a group, research analysts forecast that McDonald’s Co. will post 11.71 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is 60.10%.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the transaction, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the sale, the insider now directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,097 shares of company stock valued at $10,221,233. 0.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MCD has been the topic of a number of research analyst reports. Bank of America reduced their target price on McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Robert W. Baird upped their price target on McDonald’s from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Stifel Nicolaus lowered their price objective on McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. Evercore ISI upped their target price on shares of McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Wedbush reissued an “outperform” rating and set a $295.00 price target on shares of McDonald’s in a research report on Monday, July 29th. Ten investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $315.69.

About McDonald’s

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.